The global medical tourism market is projected to reach USD 1.4 trillion by 2027, showcasing the growing demand for cost-effective, high-quality healthcare abroad. This trend is fueled by rising healthcare costs in developed nations, coupled with increasing awareness of affordable and accessible medical options in destinations like Indonesia.
Forget expensive Western clinics; Indonesia has emerged as a medical tourism paradise, offering top-notch care at a fraction of the cost, stunning landscapes, and investment opportunities ripe for the picking.
Imagine this: Combining a rejuvenating spa treatment in Bali with a cutting-edge medical procedure in Jakarta, all while basking in the turquoise waters of the archipelago. This is the reality Indonesia offers, a booming market projected to reach USD 2.2 billion by 2028.
Why Choose Indonesia?
- Cost-effectiveness: Save up to 70% compared to Western nations, making quality healthcare accessible to a wider audience.
- High-quality care: Modern hospitals with advanced technology and skilled professionals ensure exceptional medical services.
- Holistic approach: From traditional Balinese therapies to modern wellness retreats, Indonesia caters to your complete well-being.
- Diverse offerings: cosmetic surgery, dental care, fertility treatments, and more – find the perfect treatment for your needs.
- Unforgettable experience: Combine medical care with breathtaking landscapes, vibrant culture, and delicious cuisine.
Start your investment journey in Indonesia the right way
With so many diverse investment opportunities in Indonesia, you need to make sure you’ve got the right setup to do business here.
Get help from our team of experts to register your company, navigate the real estate market and secure your visa and stay permit.
Schedule a free call with us today to plan your next steps with ILA.
Investment Opportunities Await
The medical tourism boom isn’t just for patients; it’s a gold mine for investors too. Here’s where you can tap into this lucrative landscape:
- Hospital development and management: Build new facilities or invest in existing ones, particularly in underserved regions.
- Medical equipment and supplies: Provide high-quality equipment and consumables to fuel the industry’s growth.
- Wellness and spa tourism: Develop spa resorts and wellness retreats that blend traditional and modern therapies.
- Pharmaceuticals and biotechnology: Invest in research and development of innovative healthcare solutions for the Indonesian market.
- Digital health: Implement telemedicine platforms and other digital solutions to improve healthcare access and affordability.
Government Support Paves the Way
Indonesia is actively backing medical tourism and healthcare infrastructure development through:
- Medical tourism special economic zones (SEZs): Enjoy tax breaks and other incentives for your investments.
- Streamlined healthcare regulations: Ensure patient safety and quality care standards.
- Marketing initiatives: Global campaigns are raising awareness of Indonesia’s medical tourism offerings.
Challenges and the Road Ahead
Like any burgeoning market, Indonesia faces hurdles:
- Language barriers: English proficiency among healthcare professionals needs improvement.
- Uneven infrastructure: Access to quality healthcare varies across regions.
- Raising global awareness: Continued marketing efforts are crucial to compete with established destinations.
However, Indonesia is committed to overcoming these challenges and establishing itself as a leading medical tourism and investment hub. By addressing these issues and capitalising on its strengths, Indonesia can attract patients and investors alike, creating a win-win situation for all.
Exploring Investment Opportunities in Bali’s Thriving Medical Industry
The geographical location of Bali is a great opportunity for investors looking to invest in Medical tourism. For Australian looking to organize medical or holistic holidays, it is cheaper to book a flight to Bali and spend a week in Bali than to have an operation or full aesthetic treatment in Australia. Thailand used to be a destination due to the lack of investment in Bali on this matter. The last few years several actors emerged on the island making Bali a hub for Australian but also other countries such as South Korea, Singapore.
Actors starting to look at Indonesia to operate are coming from divers countries with a demand increasing from Malaysia. Here are the business opportunities to not miss and open to foreign investment:
- Aesthetic Clinic
- Health and Wellness center
- Rehabilitation center
- Detox center (alcohol for example)
Medical Services in Bali
Healthcare services in Bali are diverse and comprehensive, catering to both locals and tourists. The island features clinics and hospitals that offer a variety of services. Its like general medical consultations, dental care, and specialized treatments. With facilities conveniently distributed throughout Bali, quality healthcare is easily accessible to everyone.
In addition to standard medical care, many clinics in Bali also provide alternative and holistic treatments, reflecting the island’s wellness culture. Services such as traditional Balinese healing, acupuncture, and wellness retreats are increasingly popular among visitors seeking a more integrated approach to health.
Sanur’s Rise as a Bali Medical Tourism Hub:
Sanur’s journey towards becoming a medical tourism hub is driven by several factors:
- Government initiative: The Indonesian government has designated Sanur as a Special Economic Zone (SEZ) for health and wellness tourism, offering tax breaks and other incentives to attract investors and medical facilities.
- World-class healthcare infrastructure: The Bali International Hospital, a state-of-the-art facility scheduled to open in early 2024, will further elevate Sanur’s medical tourism offerings.
- Holistic approach: Sanur goes beyond conventional medicine, integrating traditional Balinese therapies, wellness retreats, and stunning natural beauty to promote holistic well-being.
- Accessibility: Direct flights to Bali from major cities worldwide make Sanur a convenient and attractive destination for medical tourists.
Scale and Scope:
- 50,000 square meters of covered space: BIH will be a sprawling medical facility, equipped to handle diverse healthcare needs.
- 260 wards and 35 intensive care units: This capacity ensures ample resources to cater to a significant patient volume.
- 8 operating rooms and 4 Cath labs: Advanced technology and dedicated surgical facilities guarantee high-quality medical procedures.
- 5 Centers of Excellence (COE): BIH will specialize in cardiology, oncology, neurology, gastroentero-hepatology, and orthopedics, offering comprehensive care in critical areas.
Economic Impact :
BIH is expected to significantly contribute to Sanur and Bali’s economy:
- Job creation: Up to 2,000 jobs are expected to be created, boosting local employment and economic activity.
- Increased tourism revenue: Medical tourists will bring additional spending to the region, benefiting hotels, restaurants, and other businesses.
- Infrastructure development: BIH will act as a catalyst for further infrastructure development in Sanur, enhancing its overall attractiveness.
Ready to unlock the potential of Indonesia’s medical tourism and investment boom? Look no further than ILA Consulting, your trusted partner for navigating this dynamic market. Whether you’re a patient seeking high-quality care at affordable prices or an investor looking for lucrative opportunities. ILA can guide you every step of the way.
How do you set up a clinic or business in Bali for medical tourism?
Good news! Foreigners can set up a business in medical tourism or in the wellness industry by establishing a Limited Liability Company (LLC) called PT PMA. The company needs to apply for the right business license called KBLI. The business code is specific to the activity such as clinic or for event and retreat management. We strongly recommend using the proper license and not using another loophole if you plan to open a clinic, as strong control will apply.
The clinic activity is considered at risk and a Sertifikat Standard is required. Contact us to know more how to apply to invest in the medical tourism or open a clinic in Bali or the rest of Indonesia.
Here’s how we can accompany you:
- Market research and feasibility studies: We’ll provide comprehensive insights into the Indonesian healthcare market, identifying lucrative investment opportunities and potential risks.
- Investment structuring and legal compliance: We’ll guide you through the legal maze of company formation, licensing, and regulatory compliance, ensuring your investment adheres to all Indonesian regulations.
- Partnership and negotiation support: We’ll help you identify and connect with the right local partners, facilitating smooth business negotiations and joint venture agreements.
- Post-investment support: We’ll provide ongoing legal and administrative support, ensuring your business operates smoothly and efficiently.
